form a detailed cash budget for each month, prepare income statement and prepare balance sheet. please upload them as a chart!

You are the Business Manager of Garden Sales, Ino and the bank lhas asked you to prepare a casn anku curmont with budget/forecast and Pro-Forma Balance Sheet and Income Statement for the next quarter. A the various departments, you have come up with the following informationssumptions: - November 2017 and December 2017 sales were $110,000, each month - Soles for the following three months will increase by $2,000 each month, beginning January through Apthi. - Cost of Goods Sold represents 65% of soles, each month. - Cash Operating Expenses are 25\% of sales, exclusive of Depreciation expense - Depreciation Expense is $3,300, per month and prepald rent is amortized at $1,500 per month - Of the monthi's sales, 15\% is collected as cash with the remaining placed on customer's account. - Customer's accounts are usually paid off over a 2 month period (50\% each month) beginining the month following the sale - The CFO just informed you that one customer has filed bankruptcy therefore, 54,500 from Nov AR Sales will be written off - To maintain sufficient imventory, the company purchases 1003 of the next month's cost of sales. They pay for 60%, in cash, in jan to Bad Debt Exp. in the month they purchase and pay the remaining 40% in the following month. - In March, the company is planning on replacing an outdated machine. The new machline will cost 520,000 . The old machine orlginally cost $15,000, with a Net Book Value of $4,000 and will be sold for $6,500 - The Company does not pay or accrue for taxes until the end of December. - The Company plans to pay a cash dlvidend of \$2,000 at the end of March. - Assume all operating expenses incurred during the month are paid, in cash, during the same month incurred - The Note Payable requires a principal payment of $8,000, plus interest of $1,500, at the end of March, For this note, no interest is Accrual/Expensed until interest is paid - The minimum cash month end balance required according to the bank agreement is $65,000 for any given month beginning - A working capital line of credit is avaliable, up to $50,000, and if needed, moriey is taken out at the beginning of the month. Jan30,2018 Interest is %% per month. - Interest is paid on the working capital line when principal pavments are paid on the debt; at the end of any given month. interest is acerued on the working capital line effective the beginniry of the month when money is received. Prepare a detailed Cash Budget/Forecast for ench month of van, Feh and March, 2018 Prepare an Income Statement for each period Jan-Mar 20 lo (in bood form) Prepare a Balance Sheet as of March 31, 2018 (in good form) Although you may use Excel, this assignment must be turned in a. WAWB-WRRITEN document. This sheet must be turned in Check Figures for 03/31 with your assignment. No Net Income: (3mo)$16,139,61 excentinnk. Inventorv (3/31):$76,700 You are the Business Manager of Garden Sales, Ino and the bank lhas asked you to prepare a casn anku curmont with budget/forecast and Pro-Forma Balance Sheet and Income Statement for the next quarter. A the various departments, you have come up with the following informationssumptions: - November 2017 and December 2017 sales were $110,000, each month - Soles for the following three months will increase by $2,000 each month, beginning January through Apthi. - Cost of Goods Sold represents 65% of soles, each month. - Cash Operating Expenses are 25\% of sales, exclusive of Depreciation expense - Depreciation Expense is $3,300, per month and prepald rent is amortized at $1,500 per month - Of the monthi's sales, 15\% is collected as cash with the remaining placed on customer's account. - Customer's accounts are usually paid off over a 2 month period (50\% each month) beginining the month following the sale - The CFO just informed you that one customer has filed bankruptcy therefore, 54,500 from Nov AR Sales will be written off - To maintain sufficient imventory, the company purchases 1003 of the next month's cost of sales. They pay for 60%, in cash, in jan to Bad Debt Exp. in the month they purchase and pay the remaining 40% in the following month. - In March, the company is planning on replacing an outdated machine. The new machline will cost 520,000 . The old machine orlginally cost $15,000, with a Net Book Value of $4,000 and will be sold for $6,500 - The Company does not pay or accrue for taxes until the end of December. - The Company plans to pay a cash dlvidend of \$2,000 at the end of March. - Assume all operating expenses incurred during the month are paid, in cash, during the same month incurred - The Note Payable requires a principal payment of $8,000, plus interest of $1,500, at the end of March, For this note, no interest is Accrual/Expensed until interest is paid - The minimum cash month end balance required according to the bank agreement is $65,000 for any given month beginning - A working capital line of credit is avaliable, up to $50,000, and if needed, moriey is taken out at the beginning of the month. Jan30,2018 Interest is %% per month. - Interest is paid on the working capital line when principal pavments are paid on the debt; at the end of any given month. interest is acerued on the working capital line effective the beginniry of the month when money is received. Prepare a detailed Cash Budget/Forecast for ench month of van, Feh and March, 2018 Prepare an Income Statement for each period Jan-Mar 20 lo (in bood form) Prepare a Balance Sheet as of March 31, 2018 (in good form) Although you may use Excel, this assignment must be turned in a. WAWB-WRRITEN document. This sheet must be turned in Check Figures for 03/31 with your assignment. No Net Income: (3mo)$16,139,61 excentinnk. Inventorv (3/31):$76,700